Ripple, a leading blockchain payments company, recently made a significant contribution of $5 million in XRP to support the inauguration festivities of President-elect Donald Trump and Vice President-elect JD Vance. The three-day celebration, set to take place around January 20th, will include parades, galas, and dinners. This event will be funded by contributions from various industries, including the cryptocurrency sector.
The donation from Ripple is part of a larger $200 million fundraising effort by the Trump-Vance inaugural committee, which has already surpassed the amounts raised for Trump’s 2017 inauguration and Biden’s 2021 inauguration. The committee is aiming to reach $225 million by Inauguration Day. Other major players in the cryptocurrency industry, such as Coinbase and Kraken, have also made significant contributions, with each pledging $1 million to the fund.
Ripple CEO Brad Garlinghouse expressed optimism about the Trump administration’s approach to crypto, citing the appointment of crypto advocates Paul Atkins and David Sacks. Garlinghouse believes that the future of the crypto industry looks promising under this administration. Additionally, the crypto sector’s support for the Trump administration comes as the President-elect promises a regulatory environment that is supportive of blockchain innovation. Kraken co-CEO Arjun Sethi praised Trump for his understanding of disruptive technology and his embrace of the crypto sector.
Trump’s recent cabinet picks, including nominees such as Scott Bessent for Treasury Secretary and Howard Lutnick for Commerce Secretary, are seen as crypto-friendly. This signals potential advancements for blockchain adoption under the new administration. The crypto industry is excited to continue working with President-Elect Trump and his team to push for regulatory clarity and unlock the next wave of innovation in blockchain technology.
Overall, the strong support from the cryptocurrency sector for the Trump administration reflects a belief in the potential for blockchain innovation under this new leadership. With major players like Ripple, Coinbase, and Kraken making significant contributions, it is clear that the industry is optimistic about the future of crypto regulation and adoption in the United States. As the inauguration festivities approach, the crypto industry is looking forward to working with the new administration to drive advancements in blockchain technology and foster innovation on a larger scale.
